Fortunately, Chinese leaders do not need to stand for elections. A lot of China’s growth since 2008 has been on steroids, unsustainable, not good for the long term health of the economy. On the liabilities side there is humongous debt. On the assets side, fifty million empty homes, excess capacity in industry and infrastructure. Too many high speed trains, expressways. President Trump’s trade war is adding to China’s pain. Even so, it would be prudent to keep letting hot air out of the balloon.
Fortunately, Chinese leaders do not need to stand for elections. A lot of China’s growth since 2008 has been on steroids, unsustainable, not good for the long term health of the economy. On the liabilities side there is humongous debt. On the assets side, fifty million empty homes, excess capacity in industry and infrastructure. Too many high speed trains, expressways. President Trump’s trade war is adding to China’s pain. Even so, it would be prudent to keep letting hot air out of the balloon.